James Mawhinney, the businessman behind the Mayfair Platinum and IPO Wealth investment funds which collapsed owing $211 million, was arrested in Melbourne on Tuesday charged with four counts of dishonest conduct while carrying on a financial services business.
Mr Mawhinney appeared from behind glass in the Melbourne Magistrates’ Court and was granted bail. He is not allowed to leave the country.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
Ayesha de Kretser is a senior reporter with The Australian Financial Review covering the aviation and tourism sectors. She has previously reported on banking, mining and commodity markets. Connect with Ayesha on Twitter. Email Ayesha at ayesha.dekretser@afr.com.au
